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Trimmed Mean PCE Inflation Rate

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The Trimmed Mean PCE inflation rate is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE). It is calculated by staff at the Dallas Fed, using data from the Bureau of Economic Analysis (BEA).

The Trimmed Mean PCE inflation rate for January was an annualized 0.3 percent. According to the BEA, the overall PCE inflation rate for January was 5.3 percent, annualized, while the inflation rate for PCE excluding food and energy was 0.7 percent.

The following chart plots the evolution of the distribution of price increases in the monthly component data over the past year. The chart shows the percentage of components each month, weighted by their shares in total spending, for which prices grew between 0 and 2 percent (at an annual rate); between 2 and 3 percent; between 3 and 5 percent; between 5 and 10 percent; and more than 10 percent.